4 When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months,this quantity, along with the prices prevailing in the market for output and inputs, will do which of thefollowing?ADetermine the company's total revenue, total costs, and profitsHave no effect on the market forces of demand and supplyCONo longer be dictated by the forces of demand and supplyDODetermine the company's annual revenue, variable costs, and profits 5 Which term is synonymous with a perfectly competitive firm?AOligopolyBOPrivate enterpriseCOPrice takerDOMonopoly

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When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months, this quantity, along with the prices prevailing in the market for output and inputs, will do which of the following? Determine the company's total revenue, total costs, and profits B Have no effect on the market forces of demand and supply No longer be dictated by the forces of demand and supply DO Determine the company's annual revenue, variable costs, and profits

When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months, this quantity, along with the prices prevailing in the market for output and inputs, will do which of the following? Determine the company's total revenue, total costs, and profits B Have no effect on the market forces of demand and supply No longer be dictated by the forces of demand and supply DO Determine the company's annual revenue, variable costs, and profits

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

4 When I'MaGoldMiner chooses what quantity of gold each of its mines will produce over the next 12 months,
this quantity, along with the prices prevailing in the market for output and inputs, will do which of the
following?
A
Determine the company's total revenue, total costs, and profits
Have no effect on the market forces of demand and supply
CO
No longer be dictated by the forces of demand and supply
DO
Determine the company's annual revenue, variable costs, and profits

5 Which term is synonymous with a perfectly competitive firm?
A
Oligopoly
BO
Private enterprise
CO
Price taker
DO
Monopoly

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